House prices fell 1.4% in April, says Halifax

[dutchman]

UK house prices fell 1.4% in April compared with March, according to the latest figures from the Halifax.



The lender, which is now part of Lloyds Banking Group, said the figures showed an ongoing trend of “modest decline” in the housing market.

The average price of a home in the UK now stands at £163,395, 4% above its April 2009 low, but 20% below peaks seen in August 2007

The less volatile three-month reading showed prices were down 1.2% in April but revealed the biggest annual fall since October 2009.

Halifax housing economist, Martin Ellis, said economic uncertainty was keeping some buyers out of the market, and the resulting drop in demand was pushing prices lower

"The latest figures show that the underlying trend in house prices continues to be one of modest decline," he said.

However, he added the rate prices were falling would probably slow because of lower mortgage rates and an increase in the number of people in employment.

"There are signs that house sales are stabilising albeit at a level lower than the historical average," Ellis said.